Reference no: EM132612992

Walker Inc. began operations on January 1, 20X5. The company reports its financial statements in accordance with IFRS. On December 31, 20X5, the company owned the following investments:

Type             Category            Cost             Fair value at year end  Other

5% bonds - Amortized cost - $250,000 - $249,000 - Purchased at par on January 1, 20X5. Face value is $250,000.

Shares- fair value through profit or loss (FVPL)- 85,000 -93,000 -$15,000 dividends declared in 20X5; $11,000 was received in the 20X5 fiscal year and the remaining $4,000 was received in the 20X6 fiscal year.

Shares - fair value through other comprehensive income (FVOCI) - 45,000 - 32,000

Problem 1: What is the total income from investments that Walker reported in the calculation of net income before taxes in the statement of comprehensive income for the year ended December 31, 20X5?

a) $21,500

b) $22,500

c) $31,500

d) $35,500